It appeared that it was rather better to travel than arrive in terms of the latest announcement from biotech group Tiziana Life Sciences (TILS). Fresh news earlier this week regarding its breast cancer diagnostic spin off, the focus today was on Formulab. Here we learned that the a fast track study in Brazil will save a year in terms of the monoclonal antibody’s timeline to market, especially important given its role in the treatment of COVID-19. The first results are due in early December, with shares of Tiziana up 3p to 150p.
Edtech specialist Dev Clever (DEV) was seen to broaden its range within the tech space, with the latest news regarding a three year partnership with Low6. Perhaps the best aspect here of the deal is the way Low6’s app, PubWars is in association with Sky and will be present across 1,300 venues in the United Kingdom. Mobile ordering and gamification are key aspects of the app.
Kibo Mining (KIBO) received the backing of bargain hunters in the wake of the latest £1.45m placing at 0.20p. Fans of the stock were suggesting that now the company has been able to pay off its convertible note, there is the possibility that recent weakness in the shares may finally be over. Kibo closed flat at 0.25p.
Another minnow which may be in rehabilitation mode is Toople (TOOP), where traders were pointing to renewed strong volume in shares of the provider of bespoke telecom services to SMEs. July witnessed the announcement of the acquisition of DMSL, a company which services the likes of TalkTalk, Vonage and BT. They were also looking forward to a new trading update as soon as the end of this month. Toople rose 26.6% to 0.09p.
Shares of cash shell Trafalgar Property (TRAF) were up nearly 11%, as speculators tried to guess not only how much more stock serial entrepreneur Chris Akers might be thinking of acquiring over the near term, but what the eventual new look to the company may be? So far the jury is out in terms of exactly what Mr Akers’ plans are, but the stock looks finally to have hit a floor around the 0.14p – 0.15p area.
Thor Mining (THR) saw its shares continue to make progress after the strategic placing announced earlier this week. In it the company said that it had raised just over £1m in a financing move to allow the acceleration of Ragged Range and Pilbara projects. Should things turn out to plan, Thor Mining could achieve a decent notoriety as far as being a company that delivers the efficiency of its investment strategy.
Shares of Cap-XX (CPX) continued on their recent run with a rise of just under 14%. Pandering to the bull argument it can be said that the stock has held a decent chuck of its turning of the month gains. What is of considerable interest is the way that all the near term strategic positions of the company look as though they are ready to go. For instance, the fit out of the Seven Hills factory is now largely complete.
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